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running on this tax plan. now, five weeks before the election, he's saying that his big bold idea is never mind. >> my priority is jobs. there's nothing better for getting us to a balanced budget than having more people working, earning more money, paying more taxes. that's by far the most effective and efficient way to get this budget balanced. >> reporter: while romney made the case that he would be better at creating jobs, the president questioned how the former governor would control the financial sector. >> does anybody out there think that the big problem we had is that there was too much oversight and regulation of wall street? >> look, we have to have regulation of wall street. that's why i'd have regulation. but i wouldn't designate five banks as too big to fail and give them a blank check. this is the biggest kiss that's been given to new york banks i've ever seen. >> reporter: on to health care. romney returned to his recurring theme, calling obamacare a job killer. >> i just don't know how the pres
running on this tax plan. now, five weeks before the election, he's saying that his big bold idea is never mind. >> my priority is jobs. there's nothing better for getting us to a balanced budget than having more people working, earning more money, paying more taxes. that's by far the most effective and efficient way to get this budget balanced. >> reporter: while romney made the case that he would be better at creating jobs, the president questioned how the former governor would...
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about my tax plan is inaccurate. >> all right. back to the campaign trail today for president obama and republican challenger mitt romney after they locked horns in their first face-to-face debate. they made their cases on a wide range of domestic issues in colorado. >> bigad shaban has highlights now from denver. >>> reporter: the first presidential debate started with a handshake and a romantic moment. >> 20 years ago, i became the luckiest man on earth because michelle obama agreed to marry me. >> congratulations to you, mr. president, on your anniversary. i'm sure this was the most romantic place you could imagine here with me. >> reporter: the theme of the debate for president obama appeared to be that romney's plans lacked specifics. >> is the reason that governor romney is keeping all these plans secret because it's too good? >> reporter: governor romney spent the night attacking his record. >> we still have deficit. >> reporter: mitt romney came into the debate trailing in the polls but that could change after last night's
about my tax plan is inaccurate. >> all right. back to the campaign trail today for president obama and republican challenger mitt romney after they locked horns in their first face-to-face debate. they made their cases on a wide range of domestic issues in colorado. >> bigad shaban has highlights now from denver. >>> reporter: the first presidential debate started with a handshake and a romantic moment. >> 20 years ago, i became the luckiest man on earth because...
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federal income tax federal payroll tax state income tax state sales tax state property tax, gasoline tax. it added up to well over 50% of what they earned. and your plan is to take the tax rate on successful sphauz small businesses from 35% to 40%. the national federation of independent businesses says that will cost 700,000 jobs. i don't want to cost jobs! my priority is jobs. and so what i do is i bring down the tax rates lower deductions and exemptions. the same idea behind bowles simpson, by the way. get the rates down, lower deductions and exemptions to create more jobs because there's nothing better for getting us to a balanced budget than having more people working earning more money paying more taxes. that's by far the most effective and efficient way to get this budget balanced. >> jim you may want to move on to another topic but i would just say this to the american people. if you believe we can cut taxes by $5 trillion and add $2 trillion in additional spending that the military is not asking for, $7 trillion just to give you a sense over ten years, that's more than our en
federal income tax federal payroll tax state income tax state sales tax state property tax, gasoline tax. it added up to well over 50% of what they earned. and your plan is to take the tax rate on successful sphauz small businesses from 35% to 40%. the national federation of independent businesses says that will cost 700,000 jobs. i don't want to cost jobs! my priority is jobs. and so what i do is i bring down the tax rates lower deductions and exemptions. the same idea behind bowles simpson,...
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Oct 5, 2012
10/12
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now these politicians say unless we send more tax dollars to sacramento, they'll cut education again. here's a new approach. prop thirty-eight sends billions in new education dollars straight to our local schools, and guarantees the politicians can't touch it. thirty-eight will restore the education cuts from sacramento. so remember this number. prices at th >>> experts blame a complicate mix of refine rye outages and pipeline problems for the dramatic rise of prices at the pump. julie watts provides perspective on the prices. >> reporter: just the past 24 hours, we have seen another 8- cent hike in gas prices. on september 30, the average price of a gallon of regular in california was $4.14. we're now closing in on $4.45. if it's any consolation, it could be worse. highest prices in the state are in los angeles, so not here. and the highest average price in california history was $4.61 in 2008. >>> now, one manteca gas station owner has locked his pumps yesterday and refused to sell he is he so fed up. he couldn't stomach being forced to charge nearly $5 a gallon. he is back in busin
now these politicians say unless we send more tax dollars to sacramento, they'll cut education again. here's a new approach. prop thirty-eight sends billions in new education dollars straight to our local schools, and guarantees the politicians can't touch it. thirty-eight will restore the education cuts from sacramento. so remember this number. prices at th >>> experts blame a complicate mix of refine rye outages and pipeline problems for the dramatic rise of prices at the pump. julie...
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Oct 5, 2012
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they pay zero income tax, zero capital gains tax and zero inheritance tax.nheritance one of an army of account ant ss who helped monaco's wealthy tax exiles. >> if you have an amount of kpils money, first of all, you will be welcome. >> is it a safe place to enjoy >> reporter: wealth, is that right? >> absolutely. the life monaco lifestyle. aco >> roger moore lives in monaco and tennis champion super model forme and former beatle ringo starr reporte are reportedly residents.ing them compa keeping them company are thousands of millionaires. of they have to show that they show don't have a criminal record and that they are already residents of the european union. but only a few can pass the final test proving that they union. have enough money to live here. pass th to open a bank account in depos monaco, you need a minimum deposit of nearly $400,000 and the country's real estate is the most expensive in the world. this apartment sold for more more than $300 million. >> monaco is very safe. safe >> reporter: selling some of monaco's luxurious homes. what was the most expensive property yo
they pay zero income tax, zero capital gains tax and zero inheritance tax.nheritance one of an army of account ant ss who helped monaco's wealthy tax exiles. >> if you have an amount of kpils money, first of all, you will be welcome. >> is it a safe place to enjoy >> reporter: wealth, is that right? >> absolutely. the life monaco lifestyle. aco >> roger moore lives in monaco and tennis champion super model forme and former beatle ringo starr reporte are reportedly...
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. >> 18 months running on this tax plan and now five weeks before the election, he is saying that his big bold idea is, never mind. >> virtually everything he just said about my tax plan is inaccurate. >> the former governor knocked him out of the park! 500 uncommitted voters were asked who won this debate. 46% said it was romney. >> they are not a fan of the new archbishop national reputation for supporting california's ban on same-sex marriage. >> they swept the rangers and the baseball world! >> oakland as on top of the american league west. >> we're not finished yet. i realize that. >> from across the bay to around the world, the stories that matter on "eyewitness news this morning." >>> it's back to the campaign trail for president obama and republican challenger mitt romney after the two locked horns in the first face-to-face debate in denver last night. bigad shaban joins us live from denver with some highlights. >> reporter: good morning. it seems mitt romney got the boost he was hoping for after putting the president on the defensive for much of the night. romney touted his o
. >> 18 months running on this tax plan and now five weeks before the election, he is saying that his big bold idea is, never mind. >> virtually everything he just said about my tax plan is inaccurate. >> the former governor knocked him out of the park! 500 uncommitted voters were asked who won this debate. 46% said it was romney. >> they are not a fan of the new archbishop national reputation for supporting california's ban on same-sex marriage. >> they swept the...
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now these politicians say unless we send more tax dollars to sacramento, they'll cut education again. here's a new approach. prop thirty-eight sends billions in new education dollars straight to our local schools, and guarantees the politicians can't touch it. thirty-eight will restore the education cuts from sacramento. so remember this number. dance class, shopping, and more. so do something nice for it. chevron with techron. care for your car. canaveral area. the five foot tall australian bird apparently was looking for a >>> a feathery traffic has regard in the cape canaveral area. the bird was looking for a mate but found motorcycles and cars, not another emu. >> he is a little confused. >> police tried to get him off the highway without success. finally the bird's owner got him off the road by throwing a towel over his head. poor emu. 5 feet is about as tall as me. >> they needed a hose or another emu. >>> this afternoon, the blue angels will begin practicing above san francisco bay. >> look to the skies. scheduled to perform in the air on saturday and sunday but today and frida
now these politicians say unless we send more tax dollars to sacramento, they'll cut education again. here's a new approach. prop thirty-eight sends billions in new education dollars straight to our local schools, and guarantees the politicians can't touch it. thirty-eight will restore the education cuts from sacramento. so remember this number. dance class, shopping, and more. so do something nice for it. chevron with techron. care for your car. canaveral area. the five foot tall australian...
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this is a tax in at del. i will call it the economy tax. >> commit romney, so often stiff and wooden seemed a different man. look at the gleam in his eyes as he talked directly to the opponent. the credit was measure but hardly fired up. they clashed on health care and why the president had not picked up a plan to cut the huge debt. >> the president should have grabbed it. he wanted to make adjustments to accommodate and go to congress. >> that is what we have done. we have made adjustments -- >> you have been president for years. you said you would cut the deficit in half. we still have trillion dollar deficit. less cbs as we will have a trillion dollar deficit in the next four years. >> president obama interrupted again -- think romney might win a and oscar but it was untethered from the truth. the president echoed the complaint. >> i met this very spirited fellow the claim to be a romney. how but it could not have been a robbery. because the real mitt romney has been a are a country for the last year promi
this is a tax in at del. i will call it the economy tax. >> commit romney, so often stiff and wooden seemed a different man. look at the gleam in his eyes as he talked directly to the opponent. the credit was measure but hardly fired up. they clashed on health care and why the president had not picked up a plan to cut the huge debt. >> the president should have grabbed it. he wanted to make adjustments to accommodate and go to congress. >> that is what we have done. we have...
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this is a tax in itself -- the economy tax. gasoline prices have doubled under the president, electric rates are up, food prices are up, health-care costs have gone up by $2,500 per family. the question is how to get them going again. it is energy and trade. the right kind of training programs. the president mentioned those ideas. education. it is key. it is the future of our economy. we have 47 training programs. they are reporting to eight agencies. we have to get those dollars back to the states and to the workers so they can create pathways into training they need for jobs that will help them. taxation. we should bring the tax rates down. for corporations and individuals. for us not to lose revenue, i lowered deductions and credits and intentions so we keep taking in the same money when you account for growth. energy is critical. the president pointed out that production of oil and gas in the u.s. is up but not due to his policies -- in spite of his policies. all of the increase in natural gas and oil has happened on privat
this is a tax in itself -- the economy tax. gasoline prices have doubled under the president, electric rates are up, food prices are up, health-care costs have gone up by $2,500 per family. the question is how to get them going again. it is energy and trade. the right kind of training programs. the president mentioned those ideas. education. it is key. it is the future of our economy. we have 47 training programs. they are reporting to eight agencies. we have to get those dollars back to the...
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(applause) the first half hour was an or geoof tax policy minutish-- orgy was tax policy minutia, and they moved on to the intricacies of medicare solvency it was off the hook, in that it would have been more interesting to listen to a dial tone. (laughter) but however wonky it got last night there was no miss tacking that there was a fire breathing leftie on that stage spewing heated socialist rhetoric. >> i will not reduce the taxes paid by high income americans. regulation is essential. you can't have a free market work if you don't have regulation. preexisting conditions are covered under my plan. and with regards to health care wa, we did in massachusetts is a model for the nation, state-by-state. >> stephen: yes, mitt romney's health-care plan is just like his positions, the details change state-by-state. (laughter) now-- folks, you know me-- you watch this show, you know me. as a stanch conservative i condemn any help can who-- republican who distances himself from everything he has said on the campaign trail. but it worked so [bleep] it. (laughter) besides, i mean the argument
(applause) the first half hour was an or geoof tax policy minutish-- orgy was tax policy minutia, and they moved on to the intricacies of medicare solvency it was off the hook, in that it would have been more interesting to listen to a dial tone. (laughter) but however wonky it got last night there was no miss tacking that there was a fire breathing leftie on that stage spewing heated socialist rhetoric. >> i will not reduce the taxes paid by high income americans. regulation is...
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ofous answers, he ran away from his tax cutser the platform. he ran away from that. on the substance, he didn't do that well. it is true obama was not as engaged as some hopes. he didn't even up the 47% remarks that rom romney had made. we'll see as the next debate is. >> we heard governor chris cristie say tonight was going to be a game changer. yo you think it will change things? what about the undecided voters? >> it might. you'll notice obama is under 0%. you have a lot of debates. this could be a game changer. romney is a clear winner tonight. he'll have to win all three to a a chance if this thing. obama, i loof sports analogies. he has this idea that he can run the clock out. a lot of people lost races that way. big mistakes by the president tonight. democrats admit not getting into the tape in the 47%. the other thing you'll see in the coming days, obama checking his notes, almost like bush checking his watch in the '2. you'll see reaction to that. this gets worse for oh mamma. >> cattily does the president need to do to con vints the american people need to
ofous answers, he ran away from his tax cutser the platform. he ran away from that. on the substance, he didn't do that well. it is true obama was not as engaged as some hopes. he didn't even up the 47% remarks that rom romney had made. we'll see as the next debate is. >> we heard governor chris cristie say tonight was going to be a game changer. yo you think it will change things? what about the undecided voters? >> it might. you'll notice obama is under 0%. you have a lot of...
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my tax reform plan to lower rates for the middle class and for small business creates seven million more. and expanding trade, cracking down on china, and improving job training takes us to over 12 million new jobs. i'm mitt romney, and i approve this message >> welcome back. good morning, washington. brian van de graaff. have chilly temperatures. it is not in this cold since late april. 46 downtown, 37 in frederick and gaithersburg, 36 in winchester right now. martinsburg. until in the air. satellite picture shows showers from yesterday. have clouds this morning and it's a little foggy off to the west. sunshine early this morning, high-pressure scooting and another system passing to our south. a couple showers possible this evening. sunshine tomorrow and then a few more clouds by the middle of the week. will climbratures 50's.the let's check in with angela foster. we're having some trouble hearing angelo wright now. 4:44. columbus day. the department of public works not ticket drivers today expired meters or limit in the time residential zones. >> it is chilly outside. degrees in the di
my tax reform plan to lower rates for the middle class and for small business creates seven million more. and expanding trade, cracking down on china, and improving job training takes us to over 12 million new jobs. i'm mitt romney, and i approve this message >> welcome back. good morning, washington. brian van de graaff. have chilly temperatures. it is not in this cold since late april. 46 downtown, 37 in frederick and gaithersburg, 36 in winchester right now. martinsburg. until in the...
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no matter how small, is about principle >> president obama today calling for an end to $4 billion of tax breaks for big oil. $4 billion amounts to -- are you ready? -- it represents 0008%. $5 trillion, and this president is focused, for whatever reason, is .0008% of the problem. >> jon: forgetting for just a second that $4 billion is not .0008% of $5 trillion but in fact .05%, what's a couple of zeros between lead financial analysts on a business network? but let's focus on the argument which appears to be that $8 million is greater than $4 billion. in the words of a certain mathematically inclined vampire, i believe the quote would be "that's bull [bleep]." so why would conservatives, why would conservatives feel so strongly that sesame street has to go? i'm kind of getting the sense there might be something else going on here >> i thought sesame street was supposed to be sharing and being nice to people. over the years they've gotten more liberal >> brain washing in the most obvious form. >> pbs, sesame street, public television suckal at the public teats for taxpayer dollars. it's an
no matter how small, is about principle >> president obama today calling for an end to $4 billion of tax breaks for big oil. $4 billion amounts to -- are you ready? -- it represents 0008%. $5 trillion, and this president is focused, for whatever reason, is .0008% of the problem. >> jon: forgetting for just a second that $4 billion is not .0008% of $5 trillion but in fact .05%, what's a couple of zeros between lead financial analysts on a business network? but let's focus on the...
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my tax plan. number 2, i will not reduce the share of high-paid income individuals. i know it's a popular thing to say with a lot of people, but it is just not the case. vifive boys. i am used to people saying something that is not always true and keep repeating it and hoping i will believe it. but that is not the case. all right? i will not reduce the taxes paid by high-income americans. number 3, i will not under any circumstances raise taxes on middle-income families. i will lower taxes on middle-income families. you cite a study. six other studies look at the study you describe and say it's wrong. i saw a study that said today you are going to raise taxes $3- to $4,000 on middle-income families. throw the studies out there. the bottom line is, i want to bring the rates down, at the same time, lower deductions and exemptions and credits and so forth so we keep getting the revenue we need. you thinks, why lower the rates? and the reason is because small business pays that individualerate. 54% of
my tax plan. number 2, i will not reduce the share of high-paid income individuals. i know it's a popular thing to say with a lot of people, but it is just not the case. vifive boys. i am used to people saying something that is not always true and keep repeating it and hoping i will believe it. but that is not the case. all right? i will not reduce the taxes paid by high-income americans. number 3, i will not under any circumstances raise taxes on middle-income families. i will lower taxes on...
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mitt romney talked about his tax plan. the president was trying to say was that you can't have a program of tax cuts and also increase in defense spending that adds up without drastic spending cuts. and that's one of the things people will be going after with mitt romney. also his claims about his health care plan and medicare. again, how exactly his plan would work out. but i think in particular, the question of the taxes and the budget and how that would affect people, when really put into pla place, that will be the main fact checking going forward. >> certainly both sides of this campaign, and there's certainly stuff in the papers today analyzing things that obama said that were untrue and what romney said were untrue. everybody has to take a fine tooth comb through the paper to go through that this morning. let's talk about romney's tax cut plan. he wants to cut everyone's rates by 20%. is it true that that would cost $5 trillion, yes or no? well, the question is, how do you shape it? the question for romney is not ne
mitt romney talked about his tax plan. the president was trying to say was that you can't have a program of tax cuts and also increase in defense spending that adds up without drastic spending cuts. and that's one of the things people will be going after with mitt romney. also his claims about his health care plan and medicare. again, how exactly his plan would work out. but i think in particular, the question of the taxes and the budget and how that would affect people, when really put into...
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tax reform is hard. the tax code will be00 years old less year and we have had less than a handful of comprehensive reforms as a going-in proposition, it's hard to do. >> i have sympathy for what doug said as well. however here's the thing i watched the debate with a bunch of students out of notre dame university and there was a ton of head scratching going on. i want to quote some of the things the governor said. >> brown: it's a good school so there should be smart students. >> he said "i will not reduce the taxes paid by high income americans. i will not reduce the taxes paid by high income americans." now this is a guy who's going around saying i'm going to have a very large tax cut. >> brown: what does that mean, do you think there? >> what it means is that mitt romney makes a real distinction between cuts in tax rates and cuts in tax liability cuts in what you have to pay the i.r.s. what he's saying is to the wealthy folks we'll cut your rates but raise your deductions so your taxes will be the sam
tax reform is hard. the tax code will be00 years old less year and we have had less than a handful of comprehensive reforms as a going-in proposition, it's hard to do. >> i have sympathy for what doug said as well. however here's the thing i watched the debate with a bunch of students out of notre dame university and there was a ton of head scratching going on. i want to quote some of the things the governor said. >> brown: it's a good school so there should be smart students....
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more huge tax breaks skewed to the wealthy. while cutting nearly eight hundred billion from medicaid... even though middle-class families rely on medicaid to help loved ones cover nursing-home care. and it helps parents support children with disabilities. if mitt romney really "cares," wouldn't we see it in his priorities?
more huge tax breaks skewed to the wealthy. while cutting nearly eight hundred billion from medicaid... even though middle-class families rely on medicaid to help loved ones cover nursing-home care. and it helps parents support children with disabilities. if mitt romney really "cares," wouldn't we see it in his priorities?
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. >>> jobs, taxes, healthcare, and big bird! the first perez dishl debate is in the book -- presidential debate is in the books. >> looking at the cbs news instant polls, the former governor apparently knocked it out of the park. 500 uncommitted voters were asked who won this debate. 46% said romney was the winner, while only 22% said that the president was the victor this time. as for their view of romney, the man who has been fighting to ensure that he relates to the average american, 56% of the polls said they had a better opinion of the former governor after this debate. what started out as cordial quickly became heated. >> his proposal calls for a $5 trillion tax cut on top of $2 trillion of additional spending for the military. and he is saying that he is going to pay for it by closing loopholes and deductions. he's been asked over 100 times how he would close those loophole, and he hasn't identified them. >> if the tax plan he described airplane tax plan i was asked to support, i'd say absolutely not. i'm not looking for
. >>> jobs, taxes, healthcare, and big bird! the first perez dishl debate is in the book -- presidential debate is in the books. >> looking at the cbs news instant polls, the former governor apparently knocked it out of the park. 500 uncommitted voters were asked who won this debate. 46% said romney was the winner, while only 22% said that the president was the victor this time. as for their view of romney, the man who has been fighting to ensure that he relates to the average...
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this is a tax in itself -- the economy tax. gasoline prices have doubled under the president, electric rates are up, food prices are up, health-care costs have gone up by $2,500 per family. the question is how to get them going again. it is energy and trade. the right kind of training programs. the president mentioned those ideas. education. it is key. it is the future of our economy. we have 47 training programs. they are reporting to eight agencies. we have to get those dollars back to the states and to the workers so they can create pathways into training they need for jobs that will help them. taxation. we should bring the tax rates down. for corporations and individuals. for us not to lose revenue, i lowered deductions and credits and intentions so we keep taking in the same money when you account for growth. energy is critical. the president pointed out that production of oil and gas in the u.s. is up but not due to his policies -- in spite of his policies. all of the increase in natural gas and oil has happened on privat
this is a tax in itself -- the economy tax. gasoline prices have doubled under the president, electric rates are up, food prices are up, health-care costs have gone up by $2,500 per family. the question is how to get them going again. it is energy and trade. the right kind of training programs. the president mentioned those ideas. education. it is key. it is the future of our economy. we have 47 training programs. they are reporting to eight agencies. we have to get those dollars back to the...
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listen to this. >> governor romney and i both agree our cooperate tax rate is too high. we both agree we've got to boost american energy production and it appears we've got some agreement that a marketplace to work has to have some regulation. i suspect that on social security we've got a somewhat similar position. >> you understand what he was trying do there? >> yeah, i do. >> i got a bit confused. >> i think you're right, wolf. and i think that is a disastrous approach. the truth of the matter is mitt romney right now is the head of a right-wing extremist party called the republican party. it wasn't always the case. that's what they are today. if the president cannot differentiate himself clearly from right-wing extremism, we've got a lot of problems as a nation and he's got problems as a candidate running for re-election. in terms of social security, it is absurd for the president to say that he and romney are coming down in the same way. social security today has a $2.7 trillion surplus. social security hasn't contributed one nickel to the deficit, can pay out benef
listen to this. >> governor romney and i both agree our cooperate tax rate is too high. we both agree we've got to boost american energy production and it appears we've got some agreement that a marketplace to work has to have some regulation. i suspect that on social security we've got a somewhat similar position. >> you understand what he was trying do there? >> yeah, i do. >> i got a bit confused. >> i think you're right, wolf. and i think that is a disastrous...
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tax rate, they are taxed at lower tax rate. but those top 3% employee half the -- those are the businesses that employ one-quarter of all the workers in america. your plan is to take that tax rate from 38% to 40%. federal income tax, federal payroll tax, state income tax, state sales tax, gasoline tax, it adds up to 50% oo what they earn. your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of businesses has said that will cost 700,000 jobs. i don't want to cost jobs.+ my priority is jobs. what i'd do is bring down the tax rate, lower deductions and exemptions, the same idea behind bowles-simpson, by the way. get the breaks down, lower deductions and exemptions, to create more jobs. there is nothing better for+ getting us to a balanced budget and having more people working, earning more money, pay more taxes. that is by far the most effective and efficient way to get this budget balanced. >> you mmy want to move on to another topic, but i would just say to the american people
tax rate, they are taxed at lower tax rate. but those top 3% employee half the -- those are the businesses that employ one-quarter of all the workers in america. your plan is to take that tax rate from 38% to 40%. federal income tax, federal payroll tax, state income tax, state sales tax, gasoline tax, it adds up to 50% oo what they earn. your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of businesses has said that will cost 700,000 jobs....
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to provide tax relief to people in the middle class. i'm not going to reduce share of taxes paid by high income people. >> reporter: romney said he would close tax loopholes and limit reductions to the rich. >> the president: it is not possible to come up with enough deductions and loopholes that only affect high income individuals to avoid either raising the deficit or burdenning the middle class, it is math, -- arithmetic. >> i like the way we did it in massachusetts. >> reporter: romney said he would repeople obama care but not all the parts people like. >> number one, preexisting conditions are covered under my plan. young people are able to stay on their family plan. >> the president: what your plan does is duplicate what already law. >> reporter: the president's responses did not pin romney to what he said during the prime reese and he was able to reframe his positions. >> you have to have regulation there's some parts of dodd-frank that make sense. >> reporter: where romney was weakest was in specifics. the president aid that poi
to provide tax relief to people in the middle class. i'm not going to reduce share of taxes paid by high income people. >> reporter: romney said he would close tax loopholes and limit reductions to the rich. >> the president: it is not possible to come up with enough deductions and loopholes that only affect high income individuals to avoid either raising the deficit or burdenning the middle class, it is math, -- arithmetic. >> i like the way we did it in massachusetts....
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he has a tax cut. if you implemented it, what he says though, and has said from the beginning is that he will pay for that tax cut. when you include that sentence, he then says fairly scored, i have promised as a later date to pay for it. the question has been how are you going to pay for it? why should we believe you when no republican in 20 or 30 years has paid for a tax cut. i'm not sure it is wrong for romney to say that he is going to do a $5 trillion tax cut. the problem is he hasn't told us a word about how he is going to pay for it. the three things he wants to do, have the 20% across the board rate cut and have it paid for while protecting a bunch of tax cuts, they can't be done at once. something has to give and we don't know what it will be. >> he is wrong. because, if we give them the allowance that you are willing to give him, that will be the first time in the history of the discussion of tax policy in our government that anyone has been able to say i don't have a $5 trillion tax cut beca
he has a tax cut. if you implemented it, what he says though, and has said from the beginning is that he will pay for that tax cut. when you include that sentence, he then says fairly scored, i have promised as a later date to pay for it. the question has been how are you going to pay for it? why should we believe you when no republican in 20 or 30 years has paid for a tax cut. i'm not sure it is wrong for romney to say that he is going to do a $5 trillion tax cut. the problem is he hasn't told...
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mitt romney and common sense conservatives will cut taxes on the middle class. and they'll close loopholes for millionaires. obama and his liberal allies? we can't afford four more years. [ romney] i'm mitt romney and i approve this message. >>> facebook launches a new feature, but since its stock isn't doing so hot they want you to pay up. shawn yancy has tonight's fox 5 top five. p five. >> up first tonight, brian, if you're in the market for a safe new car, we have the latest crash test results. no. 5, the insurance institute for highway safety says these five cars are tops in those crash test ratings. each vehicle performed well in tests evaluating front, side and rear impacts as well as rollovers. no. 4, you drink at least three cups of coffee a day,you may increase your risk of developing glaucoma. researchers say caffeinated coffee was found to have a specific link to grand jury comb. no. 3, keeping your choppers -- to in shape helps blo flow to the grand. no. 2, facebook allows regular users to pay to have their statuses updated more often like advertise
mitt romney and common sense conservatives will cut taxes on the middle class. and they'll close loopholes for millionaires. obama and his liberal allies? we can't afford four more years. [ romney] i'm mitt romney and i approve this message. >>> facebook launches a new feature, but since its stock isn't doing so hot they want you to pay up. shawn yancy has tonight's fox 5 top five. p five. >> up first tonight, brian, if you're in the market for a safe new car, we have the latest...
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Oct 4, 2012
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>> mitt romney does have tax cuts in his plan. the issue is it really a $5 trillion tax cut because what he says it will make more revenue because it creates more jobs. those people then start paying taxes. so it doesn't actually cut revenues to the government. but there are cuts in the tax rate that individuals pay. i'm not sure how to count whether that is or is not a tax cut. >> reporter: bottom line, $5 trillion not $5 trillion or there is no bottom line? >> the romney-ryan plan has never specified exactly what the loopholes they will close or how the math adds up, but they say it is not a $5 trillion tax cut because it has these other residual benefits. >> well, that cleared that up, didn't it? both candidates are working hard, though, to win the support of young voters. >> last night students at the university of maryland in college park watched the debate and then offered their opinions of the candidates in a high- tech way. matt jablow has more. >> reporter: for professor philip resnick, the first general election debate o
>> mitt romney does have tax cuts in his plan. the issue is it really a $5 trillion tax cut because what he says it will make more revenue because it creates more jobs. those people then start paying taxes. so it doesn't actually cut revenues to the government. but there are cuts in the tax rate that individuals pay. i'm not sure how to count whether that is or is not a tax cut. >> reporter: bottom line, $5 trillion not $5 trillion or there is no bottom line? >> the...
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and taxes. just after romney spent time giving the details on awful those being critical of very specific pro visions of don frank. and this is the president was not in denver. i thought he spent too much time shooting bass cats rather than prepping for this thing. we saw it. he offered up routine rogue talking point thing that's people were sitting there saying do you know what? this doesn't jive with what i've just seen happen with these two men on the stage. >> and rnc chair predicting the president would make excuses because he can't defined his record. he joins us from denver, good evening mr. chairman. tell me have you spoken to governor romney since the debate? >> i. i can tell you he was smiling and happy with how things went tonight. tonight was a historical night. and this is a sense that that is shocking. the performance but there is a problem for governor and drk-excuse me, the president, mitt romney was ready, and prepared. and he was ten yaishis and respectful. the president meande
and taxes. just after romney spent time giving the details on awful those being critical of very specific pro visions of don frank. and this is the president was not in denver. i thought he spent too much time shooting bass cats rather than prepping for this thing. we saw it. he offered up routine rogue talking point thing that's people were sitting there saying do you know what? this doesn't jive with what i've just seen happen with these two men on the stage. >> and rnc chair predicting...
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tax rate, they're taxed at a lower rate. the businesses in the last 3% of businesses happen to employ half -- half of all people that work in small business. they employ one-quarter of all workers in america, and you want to take their tax rate from 35% to 40%. i talked to a guy with a very small business, he's in the electronics business in st. louis. he has four employees. he said he and his son calculated how much they pay in taxes, federal income tax, federal payroll tax, state sales tax, state property tax, gasoline tax, it added up to well over 50% of what they earned. and your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses says that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. and so what i do, i bring down the tax rates, lower deductions and exemptions, the same idea by behind bowles-simpson, by the way, get the rates down, lower exemptions and create jobs. there's nothing better to get us to a balanced budget t
tax rate, they're taxed at a lower rate. the businesses in the last 3% of businesses happen to employ half -- half of all people that work in small business. they employ one-quarter of all workers in america, and you want to take their tax rate from 35% to 40%. i talked to a guy with a very small business, he's in the electronics business in st. louis. he has four employees. he said he and his son calculated how much they pay in taxes, federal income tax, federal payroll tax, state sales tax,...
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my tax plan. number 2, i will not reduce the share of high-paid income individuals. i know it's a popular thing to say with a lot of people, but it is just not the case. vifive boys. i am used to people saying something that is not always true and keep repeating it and hoping i will believe it. but that is not the case. all right? i will not reduce the taxes paid by high-income americans. number 3, i will not under any circumstances raise taxes on middle-income families. i will lower taxes on middle-income families. you cite a study. six other studies look at the study you describe and say it's wrong. i saw a study that said today you are going to raise taxes $3- to $4,000 on middle-income families. throw the studies out there. the bottom line is, i want to bring the rates down, at the same time, lower deductions and exemptions and credits and so forth so we keep getting the revenue we need. you thinks, why lower the rates? and the reason is because small business pays that individualerate. 54% of
my tax plan. number 2, i will not reduce the share of high-paid income individuals. i know it's a popular thing to say with a lot of people, but it is just not the case. vifive boys. i am used to people saying something that is not always true and keep repeating it and hoping i will believe it. but that is not the case. all right? i will not reduce the taxes paid by high-income americans. number 3, i will not under any circumstances raise taxes on middle-income families. i will lower taxes on...